Aiming to achieve long-term capital growth by investing in global equities, the fund is unconstrained by industry or size of stock and will typically invest in high quality global brands and franchises.

The portfolio has returned 39% over the three years to 24 September, according to FE, versus an average return of 17% for global equity funds. Over five years it has returned 22% versus an average 14% loss for the sector.

Aiming to outperform the MSCI All Country World index over a full market cycle with lower volatility, Rossouw seeks out companies with “dominant intangible assets” such as high customer loyalty, brands, patents, licenses, copyrights and distribution networks.

Top ten holdings as of the end of August included Imperial Tobacco, at 5.4% of the portfolio, Microsoft (5.3% of the portfolio), Japan Tobacco (5.2%), and Nestle (4.4%).